Astoria raises $8 million

Even during the bear market and in a market moment that has led to reconsideration of investments in more complex projects, there is room for the gods foundation tower important. Like that of Astariawhich will soon offer a platform on the markets ready which will allow us to engage our own NFT.

An absolute novelty? No, but the project in addition to having an important professionalism within it has also attracted the attention of investors of first profile in the sector, for a project that should start next September and on which we will try to clarify in our in-depth analysis.

The ingredients for something interesting are all there: NFT be used as collateral to obtain a loan ETH, to then have capital also for other types of operations. Something interesting on many levels and could add a chunk to services similar to a bank of the world of decentralized finance.

Bear market? It's time to build for Astoria too

The timing seems to be as bad as it gets. Why I NFT have also suffered the collapse that has characterized the market over the past week and because there are now many of them, all with hindsight, condemning certain leveraged investment practices and the use of crypto assets to obtain cash to reinvest, ad libitum.

And rather Astaria he thinks he has an interesting system in his hands, which he has recovered from various investors 8 millionwhich will serve to extend team of 8 developers currently involved in the project. But let's proceed in order.

What Astaria wants to offer is the opportunity to bind its own NFT to obtain immediate cash Ethereum, which can then be taken elsewhere. Just in case, as is the case on other platforms of ready more classic, the collateral is no longer necessary to cover the loan, it would be liquidated to cover the position.

Something that, after the cascading liquidations for the whole sector, will send shivers down the spine, but which is actually a more than normal transition, for a sector to which (remember these words in a few years) the banks will also soon intervene.

The reason should be easy to understand: I NFT may have in some cases, we think Cryptopunks or a Bored Ape Yacht Club, very significant valuations and it will not please anyone or almost to have such large capital tied up. And for this reason, a service that offers loans against these guarantees is not only desirable, but also essential.

We are really optimistic about NFTs and the possibility of bringing real assets into the future. Over the next 3-5 years, our hope is to expand beyond art-based NFTs.

This is a sign that the platform is not only interested in successful "artistic" projects, but also in other types of assets that can be represented by non-fungible token.

So far, the choice has fallen on Ethereum, although…

The first of the standards supported will be that of Ethereumeven if there is already an openness to other types of protocols which have already gained one significant market share.

We know that Ethereum will definitely be here in 3-5 years. We don't know what the other Layer 1 strings will be. We don't know what Layer 2 will be.

However, openness to the possibility of a service multichainthat too in our opinion absolutely toilet bag so that Astaria actually becomes a protocol used.

Is the market exposed to other risks? Maybe yes, but the heart of the DeFi it is also that, that is to say to allow that there are protocols and not third-party authorities to manage the markets. Over time, we will get used to it and maybe even learn to manage our risks better. To avoid what happened a few days ago

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